Sonae Capital intends to continue investing in the hotel business in Portugal. It will make its debut on the island of Madeira, with the opening of a new hotel in Funchal, and strengthen its presence in the Algarve with the opening of a unit in Lagos. The projects will add 300 beds to the group's tourist offer.
According to the Portuguese newspaper ECO, the 98-room luxury hotel in Madeira is located in Lugar da Ajuda, in the Lido area, and will create 30 direct jobs. The Editory By The Sea Funchal is scheduled to open in February 2025.
In the Algarve, where it owns Aqualuz Lagos, Sonae Capital will operate a 204-room hotel, which will also have a residence aspect. The future The Editory By The Sea Lagos is scheduled to open in March 2025 and will employ 50 people.
Isabel Tavares, marketing and sales director of The Editory Collection, told the publication that the group is "prepared to face strong competition" and believes that "there is still room to open more hotels in Portugal".